Ignite – Igloo’s newly launched AI-powered solution

15:05 | 18/02/2022 Companies

(VEN) - Strong strategic local partnerships plus high demand boosted Igloo success. Ignite by Igloo, Igloo’s new AI-powered solution, empowers Vietnamese insurance agents and direct sales intermediaries by consolidating insurance solutions in one intuitive platform. Through Ignite by Igloo, users can discover, compare and sell products that address consumers’ unique needs.

Regional insurtech company Igloo has announced that it has facilitated over three million policies in Vietnam in 2021, with market growth propelled by a number of strategic local partnerships across verticals and a strong demand for non-life insurance.

ignite igloos newly launched ai powered solution

The partnership with LOTTE Finance marks Igloo's latest achievement to secure a collaboration in the local personal finance sector. It brings Loan Protection Insurance, including interest payment on late payment debts, hospitalization allowance and other critical illness and diseases coverage, to consumers on LOTTE Finance’s platform. Igloo has plans in place to secure multiple partnerships across more verticals by the first quarter of 2022.

“With the mission to deliver affordable and accessible insurance coverage for Vietnamese consumers, Igloo is expanding its partnerships to different sectors by working with companies of all sizes, from start-ups to big corporations, in telecommunications, delivery, logistics, consumer finance, medical, and e-wallet. We continue to strengthen our business model based on two key pillars: securing more strategic partnerships and strengthening our agency channel solution,” said Ray Nguyen - Country Manager, Vietnam at Igloo.

Given Vietnam’s strong insurance demand and a digital-savvy market composed of 53 million digital consumers, Igloo has launched an AI-powered platform, Ignite by Igloo, to enhance sellers’ productivity through a smoother and more efficient sales process. Ignite offers an accessible online solution that brings together multiple insurance products on a single platform and supports agents in driving improved customer engagement and managing products to better address customer needs. Direct sales intermediaries across sectors who want to offer protection solutions to their customers will also benefit from the platform.

Users on the platform are able to access customer data within the app to avoid missing out on claims requests and status, policy renewal timings, important dates, as well as customer requests and issues. Moreover, the platform helps automate manual work such as reporting, bolstering productivity through effective data management, analysis tools and other digital support features.

“In 2022, Igloo will continue to expand full force across Southeast Asia. We are seeing more customers who are purchasing lifestyle insurance on the back of end-consumer demand for affordable, accessible insurance solutions. We are heartened by our Vietnam successes just nine months in and with plans laid out for the year, this makes for an exciting 2022,” said Raunak Mehta, Chief Commercial Officer, Igloo.

Ha Duyen